CIBC Private Wealth Group LLC Sells 1,026 Shares of Bunge Global SA (NYSE:BG)

CIBC Private Wealth Group LLC decreased its position in shares of Bunge Global SA (NYSE:BG) by 64.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 572 shares of the basic materials company’s stock after selling 1,026 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Bunge Global were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Bunge Global by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,422,968 shares of the basic materials company’s stock worth $329,697,000 after buying an additional 45,159 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Bunge Global by 13,459.9% during the fourth quarter. Pacer Advisors Inc. now owns 2,956,459 shares of the basic materials company’s stock worth $229,894,000 after buying an additional 2,934,656 shares in the last quarter. Amundi grew its holdings in Bunge Global by 24.9% during the fourth quarter. Amundi now owns 2,457,864 shares of the basic materials company’s stock worth $190,476,000 after buying an additional 490,153 shares in the last quarter. Norges Bank bought a new stake in Bunge Global during the fourth quarter worth $148,857,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Bunge Global by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,502,083 shares of the basic materials company’s stock worth $116,802,000 after purchasing an additional 57,462 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BG shares. Stephens cut their price objective on Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Morgan Stanley cut their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Bank of America cut their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Barclays cut their price objective on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Bunge Global Stock Performance

Shares of BG opened at $74.37 on Thursday. The stock’s 50-day simple moving average is $73.12 and its 200 day simple moving average is $81.46. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. Bunge Global SA has a 52-week low of $67.40 and a 52-week high of $114.92.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. Research analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.